Updated from 2:34 a.m. EST
Microsoft (MSFT Quote) is moving closer to an agreement with Verizon Wireless to become the default search provider on the wireless carrier's cell phones, the Wall Street Journal reports.
Under the terms being considered, Microsoft would share with Verizon revenue from ads shown in response to cell phone Web searches, with guaranteed payments to the carrier of about $550 million to $650 million over five years, roughly twice what Google (GOOG Quote) offered, the Journal reports, citing people familiar with the discussions.
Microsoft is separately negotiating a deal to put its Windows Mobile software in more Verizon devices. The combined value of the two deals could top $1 billion, although it isn't clear if Microsoft is offering to pay Verizon to use Windows Mobile, or would allow Verizon to use the software for free, the newspaper reports. ...
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